SWFI First Read, January 27, 2017
OFFICIAL: OMERS Kicks in Juice for Fairfax Allies World Deal
Toronto-based Fairfax Financial Holdings Limited and the Ontario Municipal Employees’ Retirement System (OMERS) announced that they have entered into an agreement pursuant to which OMERS will invest US$ 1 billion in order to indirectly acquire approximately 21% of the issued and outstanding shares of Allied World Assurance Company Holdings, AG, simultaneously with the previously announced acquisition of Allied World by Fairfax and subject to certain regulatory approvals. OMERS will get about a 21% percent stake in Allied World Assurance Co. Holdings.On December 18, 2016, Fairfax and Allied World revealed that they had entered into a definitive merger agreement pursuant to which Fairfax will make an offer to Allied World shareholders to acquire all of the outstanding registered ordinary shares of Allied World. The transaction is expected to close in the second quarter of 2017.
Abu Dhabi Investment Council’s Share Ownership in Abu Dhabi Commercial Bank Increases by Share Reduction
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